Belize Real Estate Prices

If you’re a savvy real estate shopper, you may have noticed that Belize’s property prices are rising faster than ever. The government has recently adopted new laws that are designed to help spur the market for condominiums. However, there are still a few pitfalls to watch out for.

One of the first things to know is that Belize’s judicial system is based on the English Common Law. This means that the legal process is not as complex as in other nations, and that the process is relatively straight forward. A good attorney is the most important person to know when buying Belize Real Estate. You will also need to consult a good escrow company. Make sure the company you choose is legitimate and recommended by other locals.

To buy a house in Belize, you’ll typically need to have a 10% deposit. Belize has many lenders offering more than one type of mortgage, so be sure to compare features and see what suits you best. It’s important to make the right choice as it will make managing your mortgage much easier.

Why Are Belize Real Estate Prices Dropping?

In order to get the most out of your purchase, you need to consider the location and the size of the property you’re interested in. For example, you could look into purchasing a condo in the Stann Creek District, which is home to various fishing and port villages. There are a few other popular districts in the country, and each offers a unique experience.

Belize’s economy is largely based on tourism. With that in mind, the country’s government has made a point of updating the infrastructure to reflect modern day standards. Not only are the roads and buildings more reliable, but there are more facilities available for tourists.

Unlike in many other countries, there are no estate taxes or capital gains taxes. As such, you can purchase land for less and later sell it for a profit. While there are restrictions on the kind of land you can develop, you can buy a piece of land in Belize and be assured that you have the same rights as the nationals of the country.

Despite the recent price spikes, Belize remains a very affordable place to live and do business. If you have the cash, you can purchase a piece of Belizean land and then sell it for a tidy profit. Buying a Caribbean property is a great way to invest, as you can live near the sea and rent it out to tourists for a nice monthly income.

For those who have a bit more money to spare, the country’s up and coming areas are a great opportunity. Prices in these areas tend to be more affordable than in the country’s more popular tourist destinations. And while there is no shortage of luxury developments in the country, you can find a rental property near the sea for as little as $200 per month.

Lastly, a few words of advice: Don’t be too quick to give up on your dream of owning a piece of Belize property. Although it’s a tough job, the reward is a beautiful home in an exciting country.